Bank accounts in Spain, Portugal and other troubled eurozone countries could
be raided next, a senior European politician suggested yesterday, as Cyprus
was left counting the cost of its revised bailout deal. Citizens of the
beleaguered Mediterranean island are likely to be hard hit, as funds for
salaries and invoices are wiped out and businesses go bust.

GDP could drop more than 10 per cent this year, as companies and individuals
with savings above €100,000 held at the two biggest banks lose about 30 per
cent of their money.